Welcome!

News Feed Item

Fortuna Drills Step-out Hole of 3.5 kg/t Ag and 15 g/t Au Over a True Width of 3.7 Meters at Trinidad North

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/21/14 -- Fortuna Silver Mines Inc. (TSX: FVI)(NYSE: FSM)(BVLAC: FVI)(FRANKFURT: F4S) is pleased to announce results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico. Assay results are presented for eight drill holes completed in the fourth quarter of 2013 confirming the continuation of the high-grade Trinidad North zone over a further 200 meter strike extension beyond the limits of existing Inferred Resources. The mineralization remains open to the north and to depth as well as vertically above the 1200 meter level.

Highlights of Step-out Drilling


--  SJOM-331
    --  605 g/t Ag and 3.59 g/t Au (820 g/t Ag Eq) over estimated true width
        of 10.3 m

--  SJOM-334
    --  233 g/t Ag and 2.31 g/t Au (371 g/t Ag Eq) over estimated true width
        of 6.5 m

--  SJOM-335
    --  3,511 g/t Ag and 15.04 g/t Au (4,413 g/t Ag Eq) over estimated true
        width of 3.7 m, and
    --  474 g/t Ag and 2.54 g/t Au ( 626 g/t Ag Eq) over estimated true
        width of 9.1 m

--  SJOM-336
    --  124 g/t Ag and 0.97 g/t Au (182 g/t Ag Eq) over estimated true width
        of 13.4 m, and
    --  368 g/t Ag and 1.80 g/t Au ( 476 g/t Ag Eq) over estimated true
        width of 5.5 m

The Trinidad North discovery was announced in February of 2013 (see Fortuna news release of Feb. 4, 2013) and a maiden resource for the Trinidad North zone was announced in October of 2013. At a 70 g/t Ag Eq cutoff, Inferred Resources at Trinidad North are estimated at 1.9 Mt averaging 269 g/t Ag and 1.67 g/t Au, containing 16.3 Moz Ag and 100.8 koz Au. Resource estimates at higher cutoff grades were also presented and the reader is referred to the October 17, 2013 news release for additional information. Step-out drilling of the Trinidad North discovery was initiated in late September of 2013 and is being carried out from two underground drill stations located at the 1300 meter level. Through December 2013, eight step-out drill holes were completed in the Trinidad North Extension, a 200 meter strike extension beyond the existing resource boundary at Trinidad North.

Dr. Thomas I. Vehrs, Vice President of Exploration, commented: "High-grade silver-gold mineralization over wide vein widths is a hallmark of the Trinidad North system and the step-out drilling has confirmed the continuation of a robust mineralized system over a further 200 meter strike extension. Mineralization is present in two sub-parallel vein systems (Bonanza Vein and Trinidad Vein) and locally in the form of stockwork zones between the two structures. The high-grade silver-gold mineralization intercepted in the northernmost and deepest drill hole, SJOM-335, is a strong indicator of the robust nature of the mineralization and that the potential for further extension of the system to the north and to depth remains high. Stockwork and vein mineralization intercepted in drill hole SJOM-336 at an elevation of 1200 meters is also highly encouraging, indicating potential for expansion of the mineralized zone vertically above the 1200 meter level."

Assay Results for Principal Mineralized Intervals - Trinidad North Extension


----------------------------------------------------------------------------
                                 Est
                                True                                   Ag Eq
             From     To   Int Width     Ag    Au     Pb     Zn    Cu  (g/t)
Hole_Id       (m)    (m)   (m)   (m)  (g/t) (g/t)  (ppm)  (ppm) (ppm)    (i)
----------------------------------------------------------------------------
SJOM-
 329(ii)   271.60 273.45  1.85   1.0  1,509  7.77 11,192 12,077   747  1,975
          ------------------------------------------------------------------
           305.50 314.50  9.00   5.3    904  8.60    723  1,279    91  1,420
          ------------------------------------------------------------------
           329.15 342.10 12.95   7.5    402  3.42  3,806  6,731   501    607
----------------------------------------------------------------------------
SJOM-
 330(ii)   346.85 347.70  0.85   0.4    500  3.46  1,440  6,130    60    708
          ------------------------------------------------------------------
           386.70 396.00  9.30   4.4    288  1.76    462    832    80    393
          ------------------------------------------------------------------
           402.80 411.50  8.70   4.1    347  2.48  2,516  4,454   269    496
----------------------------------------------------------------------------
SJOM-331   242.50 255.35 12.85  10.3    605  3.59    441    855    75    820
          ------------------------------------------------------------------
           281.35 284.85  3.50   2.8    730  4.13  1,353  3,585   162    978
----------------------------------------------------------------------------
SJOM-332   408.30 409.30  1.00   0.4     65  0.33  4,070 10,500 1,320     85
          ------------------------------------------------------------------
           444.80 447.05  2.25   1.1    219  1.04    726  1,535   166    282
----------------------------------------------------------------------------
SJOM-333   339.65 344.00  4.35   2.8    342  1.67    712  1,328   106    442
----------------------------------------------------------------------------
SJOM-334   268.40 277.95  9.55   6.5    233  2.31     49     74    25    371
          ------------------------------------------------------------------
           316.40 318.00  1.60   1.0     79  0.48    185    451    11    108
----------------------------------------------------------------------------
SJOM-335   419.00 425.30  6.30   3.7  3,511 15.04  4,583 10,063   719  4,413
          ------------------------------------------------------------------
 Including 420.05 421.70  1.65   1.0 12,249 51.89 14,362 31,633 2,469 15,363
          ------------------------------------------------------------------
           439.20 454.70 15.50   9.1    474  2.54  1,286  2,771   124    626
          ------------------------------------------------------------------
           495.50 498.00  2.50   1.5    151  0.76    776  1,641    75    197
----------------------------------------------------------------------------
SJOM-336   175.25 177.50  2.25   2.1    104  0.55    312    546    17    137
          ------------------------------------------------------------------
           181.70 187.10  5.40   4.6    101  0.58     44     83     9    136
          ------------------------------------------------------------------
           191.30 207.20 15.90  13.4    124  0.97    209    438    17    182
          ------------------------------------------------------------------
           214.55 220.40  5.85   5.5    368  1.80  1,061  2,023    88    476
----------------------------------------------------------------------------
(i)Interval averages calculated at cutoff of 70 g/t Ag Eq with Ag Eq values
 estimated at Au:Ag ratio of 60 based on assumed metal prices of US$1200/oz
 for gold and US$20/oz for silver and metallurgical recoveries of 89% for
 both gold and silver
----------------------------------------------------------------------------
(ii)Previously reported, see Fortuna Silver Mines news release of Nov. 25,
 2013
----------------------------------------------------------------------------

Trinidad North Exploration and Resource Delineation

Exploration drilling at Trinidad North continues with two drill rigs from existing underground drilling stations with the objectives of extending the mineralization in open directions and the delineation of new mineral resources for incorporation into the resource update scheduled for the second half of 2014. An extension of the crosscut at the 1300 meter level is planned for completion by June of 2014 to facilitate the exploration of a further 300 meter extension of the mineralized system for a total of 500 meters from the northern limit of existing Inferred Resources.

Longitudinal sections for the Bonanza and Trinidad veins showing the location of the step-out drill hole results relative to the Trinidad North maiden resource area are available at the following link:http://www.fortunasilver.com/i/pdf/map/TrinidadNorthExtensionLongitudinalSections_JAN2014.pdf.

San Jose Mine, Mexico

The expansion of the San Jose processing plant capacity to 1,800 tpd was successfully completed in September of 2013. Expansion of the processing plant capacity to 2,000 tpd by the start of the second quarter of 2014 is currently in-process. Production guidance for 2014 is for the processing of 683,000 tonnes of ore averaging 203 g/t Ag and 1.56 g/t Au, resulting in the estimated production of 4.0 million ounces of silver and 30.4 thousand ounces of gold.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond sawing. One-half of the core is submitted to the ALS Chemex Laboratory in Guadalajara, Mexico. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for silver and base metals by ICP and atomic absorption methods utilizing aqua regia digestion. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 15 normal samples as well as the inclusion of duplicate samples for verification of sampling and assay precision levels.

Qualified Person

Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Dr. Vehrs is a Founding Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Fortuna Silver Mines.

Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, silver-, gold- and base metal-producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The Company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge Ganoza, President, CEO and Director

Fortuna Silver Mines Inc.

Trading symbols: (NYSE: FSM)(TSX: FVI)(BVLAC: FVI)(FRANKFURT: F4S)

Forward looking Statements

This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. When used in this document, the words such as "anticipates", "believes", "plans", "estimates", "expects", "forecasts", "targets", "intends", "advance", "projects", "calculates" and similar expressions are forward-looking statements.

The forward-looking statements are based on an assumed set of economic conditions and courses of actions, including estimates of future production levels, expectations regarding mine production costs, expected trends in mineral prices and statements that describe Fortuna's future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in prices for silver and other metals, technological and operational hazards in Fortuna's mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing, governmental and other approvals, political unrest or instability in countries where Fortuna is active, labor relations and other risk factors.

Although Fortuna has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Contacts:
Fortuna Silver Mines Inc.
Investor Relations:
Carlos Baca
Tel (Lima): +51.1.616.6060, ext. 0
www.fortunasilver.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
"C2M is our digital transformation and IoT platform. We've had C2M on the market for almost three years now and it has a comprehensive set of functionalities that it brings to the market," explained Mahesh Ramu, Vice President, IoT Strategy and Operations at Plasma, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Traditional IT, great for stable systems of record, is struggling to cope with newer, agile systems of engagement requirements coming straight from the business. In his session at 18th Cloud Expo, William Morrish, General Manager of Product Sales at Interoute, outlined ways of exploiting new architectures to enable both systems and building them to support your existing platforms, with an eye for the future. Technologies such as Docker and the hyper-convergence of computing, networking and sto...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...